The last five years' export growth, success of market expansion, business benefits, economies of the EU and the US, competitive global market, suspension of GSP by the US and fulfilments of the buyers' requirements have been taken into account in setting the new export target, Ahmed said.

“We hope we will be able to achieve the target as the global economy is rebounding, especially in the EU and the US,” he said.

“We are targeting Latin American countries as new export destinations as exporters are looking to diversify markets and products.”

Bangladesh has made a lot of efforts in the last one year to regain trade benefits from to the US, he said.